With the adoption of digital currencies increasing in Nigeria and its value skyrocketing, it has become imperative that you keep yours safe and secured, and have easy access to them whenever you need it. Meanwhile, some people have lost money because they chose the wrong crypto wallets to trade or exchange. But that wouldn’t be your story.
In this article, we have shown you the best cryptocurrency wallets that you can use to store and manage your Bitcoin, Litecoin, Ethereum and the rest, in Nigeria. These wallets are woven to fit the user needs of Nigerians in terms of market, security, user experience and so on.
What is a cryptocurrency wallet?
Crypto wallets are simply those written programmes in forms of apps and websites, or hardware devices designed to help you store and manage your digital currencies. They contain private and public keys that enable you to make secure crypto transactions.
You can think of cryptocurrency wallets as your bank account; but here, you are not storing Naira but your Bitcoin, Ethereum, Litecoin, or other digital coins.
Types of cryptocurrency wallets
Presently, a crypto wallet can either be a
- Online/Hot wallet
- Offline/Cold wallet
As the name implies, online wallets also called hot wallets are those you can access through an online connection. It can either be in the form of a mobile or web app. They are easy to set-up and easy to use. However, they are prone to attack by hackers.
On the other hand, offline or cold wallets are those you can have access to without online connectivity. They can come in the form of a device that looks like a USB with an OLED screen and side button. Or, it could be a paper wallet with a QR code printed on it.
List of top-rated cryptocurrency wallets available in Nigeria
Now, let us get down and look at some of the best Bitcoin wallets that Nigerians can use.
Luno is one of the top Bitcoin exchanges operating in Nigeria. The company was founded in 2013 as BitX. Its headquarters is in Singapore.
Nigeria receives the second-highest trade volume on the platform following South Africa. However, the Luno wallet feature is one of the safest you can lay your hands on.
The wallet is in the forms of web and mobile application, available on iOS and Android. This means you can only have access to it when you are online.
Aside from the wallet, Luno has the following features:
- Buy and sell cryptocurrencies.
- Exchange (Real-time trading).
- Luno API.
Meanwhile, Luno only supports Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin.
Since Luno operates in different countries, the available fiat currencies are:
- South African Rand
- Nigerian Naira
- Zimbabwean Kwacha
- Malaysian Ringgit
- Indonesian Rupees
Quidax is a top Nigerian site where you can buy, sell and trade cryptocurrencies. They also provide a reliable crypto wallet to help you store and manage your coins.
The company was established in 2018 by Buchi Okoro. Nevertheless, the company’s headquarter is in Malta. Since its primary target market is Nigeria, Quidax only supports Naira as fiat currency.
Meanwhile, Quidax wallet is currently used in over 70 countries. It was created to offer convenience to users who would be trading, buying or selling digital coins on the platform. Hence, Quidax wallet will not give you access to your private key.
Quidax supports 6 coins including, Bitcoin, Ethereum, Ripple, Litecoin, Dash, and Tether.
Another wallet you can look up to for secure and trusted storage of your digital assets is Coinbase. Formerly known as Toshi, Coinbase allows you to store and send crypto to anyone anywhere across the globe.
The wallet keeps your private key secure by using your device’s Secure Enclave and biometric authentication technology. Through decentralized App, Coinbase gives you access to seamless transactions.
According to the company’s data, more than 98% of their customer’s digital currencies are stored offline. This means that Coinbase wallet is less prone to hacking.
The remaining percentage, however, are stored online to serve the liquidity needs of their customers. Nonetheless, they have an insurance premium that would cover you in case of any loss.
Coinomi is a Blockchain technology wallet that lets you securely store and manage your Bitcoin, Ethereum and other cryptocurrencies with ease. The company was founded in 2014.
As one of the first players in the crypto market, Coinomi has become one of the most trusted and widely used wallets across the world including Nigeria. It is multilingual and supports over 125 Blockchain assets with thousands of tokens.
Coinomi also provides over 165 fiat currency. Perhaps the wide usage of Coinomi crypto wallet can be attributed to its availability across all types of devices: Android, iOS, Linux, Windows, Web, and macOS.
Some of the cryptos it supports are:
- Bitcoin Cash
- Bitcoin Gold
Just like Coinomi, Bitpay is a non-custodial cryptocurrency wallet that gives you full access to your digital coins. Hence, you can store, spend, track, and manage your cryptos without hassle or fear of losing your money.
Bitpay as a company was launched in 2011, in the shooting stage of Bitcoin. However, in 2016, they launched their wallet feature.
Unlike other wallets listed here, Bitpay wallet lets you convert your digital assets to fiat currency with which you can buy whatever you want. You can get a Bitpay Mastercard to enjoy a swift payment.
Presently, Bitpay is available in 229 countries including Nigeria. Therefore, we recommend it as one of the best cryptocurrency wallets to use while in Nigeria.
Exodus wallet might be your go-to if you are in Nigeria wondering the best Bitcoin wallet to use. The desktop or mobile application gives you the tools that enable you to store, manage, and grow your digital assets properly.
One of the most outstanding features of Exodus wallet is the appealing user interface. It is sleek and easy to use. If you are new to cryptocurrency, Exodus will be where to begin your journey from.
On Exodus, the private keys to your crypto assets are stored in your device/computer. However, the programme is compatible with Windows, Mac, Linux, iOS, and Android.
Exodus wallet supports about 115 cryptocurrency assets including coins and tokens. Some of them are Bitcoin, Ethereum, Ripple, Litecoin, Tether, Bitcoin Cash, and so on.
This is a digital cryptocurrency wallet that was launched in 2011 by Blockchain, a technology company based in Luxembourg. With this crypto wallet, you can securely keep, buy, or sell you digital coins with ease.
Blockchain Wallet is only available on the web and via their iOS or Android mobile app. However, you cannot store any fiat currency on it; only supports 5 cryptocurrencies:
- Bitcoin Cash
- USD Digital
As one of the early technologies in the industry, Blockchain Wallet has become one of the most used and trusted Wallets in the world including in Nigeria.
The app has an easy and user-friendly interface. Hence it is an ideal tool for a new user who wants to store and transact with his/her digital coins.
Unlike the crypto wallets above, Trezor wallet is a hardware wallet. This means it offers cold storage (storing your Bitcoin offline). It was first launched in 2014, making it the first hardware crypto wallet.
The cool thing about Trezor is although it is a cold wallet, it gives you the convenience of spending your coins just as in hot wallets. The device looks like a USB, just about a key size; you can connect it to your computer and store your cryptocurrencies and private keys offline.
The device is of two versions:
- Trezor One, launched in 2013
- Trezor T, released in 2018
The major difference between the two is that Trezor T is an improved version with better design; Trezor T also supports Monero and Ripple, unlike Trezor One. Nevertheless, they both support about 1000 digital assets.
Just like KeepKey Trezor wallets, Ledger Nano is one of the most reliable hardware cryptocurrency wallets Nigerians can use to store their digital assets.
All you need to do is to plug it in your computer, set your PIN and you can begin to store your Bitcoin, Ethereum and others. It also allows you to send and receive different types of digital coins too.
The French FinTech behind this technology released their first hardware wallet in 2014; that was Ledger Nano S. In 2019, Ledger released a new version called Nano X.
Ledger Nano wallets are multi-currency wallets that store only 26 coins and over 1500 tokens. Some of these coins include Ethereum, Bitcoin, Litecoin, Ripple, and Bitcoin Cash.
KeepKey is another hardware crypto wallet that makes it to this list of best digital currency wallets available in Nigeria. It is a tested and trusted device with which you can store, send, and receive coins. Moreover, it supports over 40 crypto assets.
Some of the coins supported by KeepKey are
- Bitcoin Cash
- Bitcoin Gold
The device is beautifully designed with great user-experience quality. It functions just like Trezor and Ledger Nano Wallets. However, it does not support multiple coins and it is not as portable as the others.